Northwestern Mutual

Business Succession

Take advantage of our expertise, strategies and tools to smoothly transition your business to its next owner.

Business succession

Whether it's a few years from now or decades away, there will come a day when you will leave your business. To ensure your business passes successfully to its next owner, it's important to begin planning now. The best plan may be one that occurs over multiple years.

Not only will having a succession plan in place help to transfer ownership of your business to the correct people at some point in the future, it also offers valuable benefits today. When you have a succession plan in place, banks, clients and suppliers have greater confidence in the stability of your business.

Business Succession White Paper

Our financial professionals can work with you and your team of advisors to:

  • Clarify your goals.
  • Build your succession plan.
  • Manage your risk.
  • Value your business.
  • Adjust your plan, as needed.

Some strategies for business succession can take years to fund and implement. The sooner you start thinking about how you want to transition your business, the sooner you can start putting in place the plan that will help get you there.

The Benefit of a Buy-Sell Agreement

A buy-sell agreement is a written document that facilitates the smooth transition of ownership between you and the person who will succeed you as the owner of your business. It provides mutually agreeable terms, assures creditors and employees of business continuity and reduces potential for discord and litigation. It isn’t enough, however, for the agreement to simply specify how ownership of your business will pass to your partner or to a key employee. To realize the benefits of your agreement, it must be adequately funded. Northwestern Mutual financial professionals will work with you to identify the best options for funding your agreement.

By taking steps today, you can ensure the smooth transition of your business with the least possible conflict, expense and delay. And you'll have the confidence in knowing your estate and retirement income plans can continue to provide for yourself, your family and heirs.

More on This Topic

Click the links below for more information.

  • Planning for the Success of Your Business

    Planning for the Success of Your Business

    Learn more about our integrated approach to financial planning for every stage of your business.

    Watch Now
  • Vision: Valore Partners Story

    Vision: Valore Partners Story

    Hear how Tim Bauer, Managing Partner with Valore Partners, kept his growing business on track when health concerns arose.

  • Providing an Emergency Lifeline

    Providing an Emergency Lifeline

    Learn how entrepreneur John Sheaffer kept his business afloat during tough times.

  • newdoc2

    Business Transition Plans

    Business Transition Plans

    Find out three things small business owners can do to help create a secure retirement.

    Read More
  • Group Disability Income

    Group Disability Income

    Learn how you, your employees and your business can benefit from group disability insurance.

  • Forward Thinking

    Forward Thinking

    Meet entrepreneur Shaun Silva, who saw an opportunity to branch out his business and built a team to help him create a plan.